China allows nationals to buy Hong Kong shares
New SAFE regulations will turbo-charge Hong Kong H-shares. But the effect on renminbi revaluation is less clear, say commentators.
News that Chinese nationals will be able to buy and sell foreign shares privately caused a sensation in Hong Kong on Monday û and commentators estimate the reaction is justified.
Under the new regulations, Chinese nationals will no longer be limited to the former ceiling of $50,000 in forex acquisitions per year. They will be able to use their existing forex, or buy the foreign exchange with renminbi, apparently with no ceiling on the amount they can send abroad.
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